Credit Industriel ET Commercial cut its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,317 shares of the shipping company's stock after selling 6,030 shares during the quarter. Credit Industriel ET Commercial owned about 0.06% of Teekay Tankers worth $889,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Teekay Tankers by 3,882.5% during the 1st quarter. GAMMA Investing LLC now owns 19,594 shares of the shipping company's stock worth $750,000 after purchasing an additional 19,102 shares during the period. Highland Capital Management LLC purchased a new position in Teekay Tankers during the first quarter worth about $286,000. Integrated Advisors Network LLC purchased a new position in Teekay Tankers during the first quarter worth about $213,000. Deutsche Bank AG purchased a new position in shares of Teekay Tankers during the 1st quarter worth approximately $711,000. Finally, Strs Ohio purchased a new position in shares of Teekay Tankers during the 1st quarter worth approximately $612,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Tankers Trading Up 0.5%
NYSE:TNK opened at $49.38 on Tuesday. The firm has a market cap of $1.69 billion, a PE ratio of 6.13 and a beta of -0.07. The stock has a fifty day moving average price of $49.57 and a 200 day moving average price of $45.25. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $58.90.
Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.18). The company had revenue of $154.23 million during the quarter, compared to analysts' expectations of $162.67 million. Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. During the same quarter in the previous year, the business posted $3.11 EPS. Equities analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current year.
Teekay Tankers Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Teekay Tankers's payout ratio is currently 12.42%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on TNK shares. Zacks Research raised shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Jefferies Financial Group restated a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, July 31st. Weiss Ratings restated a "hold (c+)" rating on shares of Teekay Tankers in a report on Wednesday, October 8th. Finally, Clarkson Capital upgraded Teekay Tankers to a "strong-buy" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $50.67.
Get Our Latest Research Report on Teekay Tankers
About Teekay Tankers
(
Free Report)
Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.
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